Asia Cup final: India beat Malaysia 2-1 to win third Asia Cup title

New Delhi, Jun 18: Vodafone Idea on Thursday told the Supreme Court that it has incurred Rs 1 lakh crore losses as it insisted it is not in a position to furnish bank guarantees.

A bench comprising Justices Arun Mishra, S. Abdul Nazeer, and M.R. Shah, taking up the adjusted gross revenue (AGR) matter through video conferencing, directed the telecom companies to submit their financial documents and books for the last 10 years.

Asking Vodafone if it was a foreign company, the bench said that how can the company say it would not furnish any bank guarantee.

"What if you fly away overnight in future without paying anything?" it asked.

Senior advocate Mukul Rohatgi, representing Vodafone Idea, denied his client is a completely foreign firm and cited before the bench its tie-ups and investments.

Vodafone owes over Rs 58,000 crore as AGR dues and so far, has paid close to Rs 7,000 crore.

Rohatgi contended before the court that the telecom company is in a tough situation, and cannot furnish any fresh bank guarantee, as profits have eluded the company in past many quarters. He submitted before the bench that Rs 15,000 crore bank guarantees are lying with the government, and his client's losses are over Rs 1 lakh crore.

"I cannot offer any more surety," he informed the bench.

Justice Mishra noted that this is public money and these dues should be recovered. "Do not tell us that you will pay if you were to make profits... the money must come," he noted.

Justice Shah observed that the telecom industry is the only industry which earned during the Covid-19 pandemic. "After all, this money will be used for public welfare", he said.

Rohatgi argued that his client would have to fold up if orders were issued to clear dues tomorrow. "11,000 employees will have to go without notice, as we cannot pay them," he added.

Senior advocate Abhishek Manu Singhvi, appearing for Bharti Airtel, contended before the court that out of Rs 21,000 crore AGR dues, the company has already deposited a sum of Rs 18,000 crore.

He argued that his client has given a bank guarantee, in excess of demand, to DoT, and supported the proposal for phased repayment of remaining AGR dues. He insisted that the company needs to sit down with the government and calculate the dues. Airtel owes Rs 25,976 crore after paying Rs 18,000 crore, as per the government.

Senior advocate Arvind Datar, representing Tata Telecom, informed the bench that his client has paid Rs 6,504 crore in AGR dues so far, and furnishing a bank guarantee may adversely impact investments in the sector.

The total AGR dues are close to Rs 1.5 lakh crore.

The top court will now take up the matter in the third week of July.

New Delhi, Jun 10: Former India skipper Rahul Dravid has praised the batting of MS Dhoni during the backend of a match, saying that the wicket-keeper often played during the period as if the result did not really matter to him.

Dravid also said that in pressure-cooker situations, not worrying about consequences can help players bring out the best in themselves.

"You watch MS Dhoni play during the backend of a match when he was at his best, you always felt like that he is doing something really important to him but he is playing it like the result does not really matter to him," Dravid told Sanjay Manjrekar during a videocast hosted by ESPNCricinfo.

"I think you need to have that or you need to train for it. It is a skill that I never had. The consequences of any decision mattered to me. It would be interesting to ask MS Dhoni that is this something that has come naturally to him or did he work on this during his career," he added.

Dhoni made his ODI debut against Bangladesh in 2004, but he truly arrived in the series against Pakistan in 2005 when he scored 148 runs in the second ODI of the six-match series at Vishakapatnam.

He is the only captain to win all major ICC trophies (50-over World Cup, T20 World Cup, and Champions Trophy). Under his leadership, India also managed to attain the number one ranking in Test cricket.

He first led an inexperienced Indian side to the T20 World Cup triumph in 2007. He then took over ODI captaincy, but he had to wait for leading the Test side as Anil Kumble was doing the duties in the longest format.

Over his career, Dhoni has been reowned for his finishing skills and he is often viewed as the best finisher that the game has ever seen.

In December 2014, Dhoni announced his retirement from the longest format of the game.

Then in 2017, Dhoni handed over the captaincy reins to Virat Kohli in the 50-over format.

Dhoni was slated to return to the cricket field on March 29 in the IPL's opening match between CSK and Mumbai Indians. However, the tournament has been suspended indefinitely as a precautionary measure against coronavirus.

Thirty-eight-year-old Dhoni has been currently enjoying some time away from the game. He last played competitive cricket during the 2019 World Cup.

Dhoni recently had to face criticism for his slow batting approach during India's matches.

Earlier this year, Dhoni did not find a place in the list of BCCI's centrally contracted players from October 2019 to September 2020.

New Delhi, Jul 25: India reported a spike of 48,916 coronavirus cases on Saturday, according to the Union Ministry of Health and Family Welfare.

The total COVID-19 positive cases stand at 13,36,861 including 4,56,071 active cases, 8,49,431 cured/discharged/migrated. With 757 deaths in the last 24 hours, the cumulative toll reached 31,358.

Maharashtra has reported 3,57,117 coronavirus cases, the highest among states and Union Territories in the country.

A total of 1,99,749 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,28,389 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 4,20,898 samples were tested for coronavirus on Friday and overall 1,58,49,068 samples have been tested so far.